MARC has lowered its ratings on Kinsteel Berhad’s (Kinsteel) RM100 million Murabahah Commercial Papers/Medium Term Notes Programme (CP/MTN) and RM100 million Murabahah Medium Term Notes (MTN) Programme to MARC-2ID /A-ID and A-ID from MARC-2ID /AID and AID respectively. The outlook for the ratings is negative. Concurrently, the rating agency has removed Kinsteel’s ratings from MARCWatch...

MARC has downgraded the long-term rating to A+ID from AA-ID of KNM Group Berhad’s (KNM) RM1.1 billion Islamic Medium Term Notes (IMTN) Programme and concurrently affirms the short-term rating at MARC-1ID for KNM’s RM400.0 million Islamic Commercial Paper (ICP) Programme. The outlook of the ratings has been revised to developing from stable. Currently there are no notes issued under the...

MARC has downgraded the long-term rating to A+ID from AA-ID and concurrently affirms the short-term rating at MARC-1ID of KNM Capital Sdn Bhd’s (KNM Capital) RM300.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) programme. The outlook of the ratings has been revised to developing from stable. The rating actions affect RM190.0 million of outstan...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) Senior Sukuk comprising RM100 million of Class A, RM20 million of Class B and RM40 million of Class C Sukuk at AAAIS, AAIS and AAAIS(bg) respectively. The outlook on the ratings for the Class A and B Sukuk have been revised to negative from stable. The revision in outlook reflects increasing concerns on the credit profile of the t...

MARC has lowered its rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 million Murabahah Medium Term Notes (MMTN) programme from AID to A-ID. The outlook on the rating is negative. The rating action, which affects RM160 million of outstanding MMTNs under the programme, is premised on the prolonged decline in the steelmaker’s operating performance and the rating agency’s expecta...

MARC has affirmed its short-term and long-term ratings of MARC-2ID /AID on EP Manufacturing Berhad's (EPMB) RM120 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Programme with a stable outlook. The rating action affects RM10 million of notes outstanding under the programme.The affirmed ratings reflect the group’s strong domestic market position as leading Ti...

MARC has downgraded its ratings on Maxtral Industry Berhad's (Maxtral) RM80 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20 million Murabahah Underwritten Notes Issuance/Murabahah Medium Term Notes (MUNIF/MMTN) facilities to BBB-ID and MARC-4ID/BBB-ID from BBB+ID and MARC-3ID/BBB+ID respectively. Concurrently, the ratings have been placed on MARCWatch Negative. The rat...

MARC has affirmed its ratings of MARC-1ID /A+ID on Weida (M) Bhd’s (Weida) RM100 million 7-year Murabahah Underwritten Notes Issuance (MUNIF)/Islamic Medium Term Notes Facility (IMTN). The outlook on the ratings is stable. The rating action incorporates the partially funded designated account that Weida has recently set up to improve the certainty of full and timely repayment of its remainin...

MARC has affirmed the short-term and upgraded the long-term ratings of Boon Koon Group Bhd’s (BKGB) RM100 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) programme to MARC-3ID / BBBID from MARC-3ID /BBB-ID respectively. The rating outlook is stable. The rating action affects RM45 million of outstanding notes issued under the programme. The upgrade in the long-term rati...

MARC has affirmed its ratings of AAAID(S) on the respective Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) issuances of Optimal Glycols (Malaysia) Sdn Bhd (Glycols) and Optimal Chemicals (Malaysia) Sdn Bhd (Chemicals) with a stable outlook. The rating actions affect RM155 million of outstanding BaIDS issued by Glycols and RM185 million of outstanding BaIDS issued by Chemicals.The ratings hav...